OneBit Investor Return July 2021

July 2021 Crypto Trading Performance:

After enduring a long period in a descending curve, the month-end happened to be a promising one for Bitcoin as the flagship cryptocurrency finally got over both the 20 and 50 days MA (moving average) and maintaining a well-shaped ascending price channel.

The price held above $41,000, the highest since May, after a 10-day winning streak that was the longest in eight years for the largest cryptocurrency. Some industry analysts are now wondering aloud if the worst of bitcoin’s recent bear market might have passed.

The bear sentiment during the month remained strong, prompting pro-traders to maintain an overall cautious attitude. We found the room for profit was very narrow during the volatility and a significant decrease in trading volume. On average we hold 1.4% profit this month and have dodged the depreciation of value for our clients’ asset in the past three months.

What the World is Doing?

1. An ‘anonymous’ insider has made claims that the e-commerce giant Amazon is ‘definitely’ lining up Bitcoin payments. It has been reported that the global marketplace giant is “looking to accept Bitcoin payments ‘by the end of the year’, and is investigating its own token for 2022”.

2. The French government through its security regulator, Autorite des Marches Financiers (AMF) has proposed that the EU set up a single agency to regulate digital currency activities across the EU. Regulation of digital currencies has been a major talking point for governments across the globe. We await to see what the regulatory steps will mean for transactions involving digital currencies in the EU.

3. Viridi Funds, a green energy crypto mining exchange-traded fund, launches on the New York stock exchange. This development is a very bullish step for Bitcoin as clean and environmentally friendly energy has been a major talking point in recent months, a reason why Tesla suspended the use of Bitcoin as means of payment.

4. Speculation addresses that Saudi Aramco, the third-largest company in the world, is set to begin Bitcoin mining. The company is interested in using excess gas created during oil production (flared gas) as an electricity source for mining digital assets.

5. Ethereum’s strong price performance during the weekend comes from the anticipation surrounding the London Hard Fork that should be implemented on the Ethereum mainnet on August 4th. The update is set to stabilize transaction fees during periods of network congestion and puts measures in place to ensure fewer transactions fail because of the uncertainty about what is the right amount of gas to be paid.

6. The US Federal Reserve begins to consider tapering its $120 billion-a-month of asset purchases – a form of extreme monetary stimulus that has been a big driver of the investment narrative that Bitcoin could serve as an effective hedge against inflation and currency debasement.

Crypto Fear & Greed Index experienced extreme fear (24) on 21st July and then shifted to Greed (60) yesterday for the first time in 12 week. OneBit wants to send a gentle reminder to all our clients – Patience is a Virtue.

We hope you enjoy our fundamental analysis above to have a brief understanding of the crypto world. At OneBit, we strive through technical analysis, but we also love good stories behind the charts that move the world.

Our trading philosophy:

Catch the high tide and cushion the downside.

Just as your assets are trading via OneBit, so are ours. In OneBit’s asset pool, every client enjoys the same trading strategies as the owners of the company. We share the same risks and opportunities and will try our best to share with you the joy of crypto trading as we feel it ourselves.

OneBit of trading, one giant leap in life…

Previous Post
Texas Poker Chips Rules – Live Online Casino: all live casino games


Leave a Reply

Your email address will not be published. Required fields are marked *

Fill out this field
Fill out this field
Please enter a valid email address.
You need to agree with the terms to proceed